Sunbelt continues to drive the Group’s performance. Rental revenue grew 21 percent to $1,611 million driven by a 13 percent increase in average fleet on rent and 7 percent improvement in yield. Sunbelt’s total revenue, including new and used equipment, merchandise and consumable sales, also grew 21 percent to $1,820 million.

In difficult market conditions, A-Plant performed well and delivered rental revenue growth of 9 percent. This was due to 11 percent more fleet on rent, which was partially offset by a 2 percent yield decline.

Sunbelt’s strong revenue growth, combined with continued focus on operational efficiency, resulted in a 67 percent drop-through to profit. As a result, it recorded a record EBITDA margin of 41 percent. Sunbelt’s operating profit of $453 million was 56 percent greater than the year-ago level, and represented a company record.